Ann: BlueScope 2023 US Site Visit Presentation Day 1, page-24

With BSL on the ASX there is always a disconnect between BSL and the big US based steelmakers. Maybe a bit higher on Monday to catch up.

As I indicted above, with the amount of revenue being generated by the US business which cannot be returned to Aussie investors by way of franked dividends, the buyback will continue infinitely unless other expansion businesses are purchased. The share price will have to move higher at some time in the future as long as the executive team aren't gifted millions of shares in bonuses.

I actually want to sell my BSL shares over the next few years as the returns are lower than all my other shares and history shows the steel industry is not a consistent industry for year on year returns. So yes, I do want the share price higher in the short/medium term to increase my capital gain which I believe will only happen if BSL maximise franked dividends.